Nov 16, 2010

No tender offer for BUMI stake

There is no mandatory tender offer for the remaining stakes in Bumi Resources, following the exchange shares with Vallar Plc new shares.

Vallar Plc will exchange its 90.1 million new shares at 10 pound per share with 25% ordinary shares or 5.19 billion shares in PT Bumi Resources Tbk (BUMI). It means the shares exchange equals to Rp2,495 per Bumi share. Disclosure: No position at the stock mentioned above.